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Aon Risk Solutions Retail Industry Practice
CustomizedTo FitServing the Retail Industry
2 Retail Industry Practice Aon Risk Solutions 3
4 _Failure to innovate/
meet customer needs
5 _Failure to attract or retain top
talent
7 _Regulatory legislature
changes
Top 10 H&B Risks for Retailers
Expanding Risks for Retailers
While the Retail environment has been challenging, there seems to be a rebirth in the air. Robots, drones and OmniChannel have all changed the landscape our clients operate in, thus making innovation and retention of top talent more important now than ever before. Continuous evolvement in cyber security is a dominating topic for firms as they map strategies to mitigate potential breaches and changing legislation. Business continuity and supply chain disruption, blockchain and cryptocurrencies and final mile innovative logistics are all emerging to the forefront. These trends look toward futuristic exposures, forcing retailers to address some unique risks. Natural disasters and catastrophic losses create a great need for established processes around supply chain disruption and redirection of assets. Doing so allows our clients to react quickly and deploy solutions efficiently. And finally, with healthcare and worker’s compensation costs increasing dramatically, the need to control total cost of risk and claims management are key to ensuring success across a firm.
At Aon, we have a deep understanding of these and adjacent issues. This market experience and knowledge is why Aon’s Retail Industry Practice can help clients develop flexible, cost-effective solutions for risk financing needs.
Top 10 Risks for Retailers
1 _Health care cost impact
margins
10 _Understanding
key cost drivers
3 _Employee wellbeing
2 _Regulatory legislature
changes
4 _Failure to attract or retain top
talent
6 _Stream lining
administration
5 _Meeting diverse
generational needs
7 _Budget
stability
8 _Managing
absence and safety
9 _Failure
to innovate/ meet customer
needs
Aon plc
• Leading global professional services firm providing a broad range of risk, retirement and health solutions
• 50,000 colleagues in more than 120 countries
• Repeatedly honored as the world’s best broker, best insurance intermediary, reinsurance intermediary, captive insurance company manager and employee benefits consulting firm
Aon Retail Industry Practice
• Representing over 70% of Fortune 500 Retailers and placing 640 million USD in premiums annually.
• Achieving more than 94% client retention
• Industry Aligned Risk, Consulting and Employee Benefit teams
Your Advantages With Aon
ac
b
a
b
c
a,b, and c - letters denote overlap in Risks with H&B Sector.
1 _Damage to
reputation/ brand
2 _Increasing
competition
3 _Economic
slowdown/ slow recovery
6 _Cyber crime/
hacking/viruses/ malicious
codes
8 _Distribution
or supply chain failure
9 _Technology
failure/system failure
10 _Failure to
implement or communicate
strategy
Unmatched Talent Across the Retail Industry
Aon leverages considerable knowledge and intellectual capital to enhance delivery of our specialty services and products to all clients. We facilitate the sharing of ideas, information, best practices and resources. We anticipate market challenges and opportunities, and ultimately develop innovative retail risk solutions for our clients.
Our specialists understand the challenges across sectors of the retail industry and deliver a mix of resources to help address them through hands-on consulting and a range of risk management services.
Total Cost of Risk Reduction Strategies
Natural Hazard Modeling
Foreign Vendor Products Liability
Optimizing Risk Financing Programs
Cyber Evaluation and Risk Qualification
Unmatched Actuarial Benchmarking
Wage and Hour
Aon Cyber Solutions Group
Absence Management and Return to Work
4 Retail Industry Group Aon Risk Solutions 5
What’s in Our Shopping Cart?
Aon specializes in providing superior retail risk management and insurance products and services to retailers around the world. We support sectors across the retail industry, and out industry leaders can work with you to assess liability deficiencies and develop solutions that fit your unique needs.
Our risk management and human resource solutions for retail clients include the following:
Casualty
Claims and Risk Control
Financial Services
Health and Benefits
Network Security
Property
Risk
Retirement and
Benefits Strategy
FPO
6 Retail Industry Practice Aon Risk Solutions 7
Industry-Leading Innovation for Greater Value and Lower CostsAon’s industry-leading technology tools boost clients’ capabilities in risk management.
Cyber Diagnostic
A unique combination of hardware, software, preparedness auditing, incident response and industry-leading insurance working together to protect companies and provide greater certainty.
AonLine Industry Page
This is a site exclusively for retailers, providing access to current trends, blogs on hot topics, and an array of timely information on risk products and services.
SnapRISK® Suite of Apps
SnapRISK® combines the flexibility of comprehensive, on-site property surveys with the impact of immediate, post-event property damage documentation in an exciting, new mobile application.
Aon Retail LinkedIn Group
A dedicated LinkedIn group for Retail professionals interested in networking and discussing Retail related risk issues. Members are encouraged to engage in dialogue with each other, ask questions and post relevant content.
Supply Chain Diagnostic
An Aon proprietary diagnostic tool to help risk leaders quickly assess the effectiveness of their supply chain risk management against critical supplier and enterprise exposures.
Spectrum AnalyticsTM
An innovative product offering risk leaders an interactive casualty claims dashboarding tool that leverages proprietary Aon Casualty LaserTM
benchmarking – with complementary advisory consultation to identify cost savings opportunities.
Aon Risk Maturity Index
The Aon Risk Maturity Index (RMI) was created in collaboration with The Wharton School of the University of Pennsylvania to capture and assess the maturity of an organization’s risk management practices.
Aon Strategic Savings Calculator
Our propriety Strategic Savings Calculator (SSC) offers solutions for employers looking to implement new cost-savings across benefits and risk management. SSC provides modeling for incremental savings, as well as strategic overall savings.
8 Retail Industry Practice Aon Risk Solutions 9
Data & Analytics at Aon The Heart of Aon Inpoint
As the insurance industry increases its reliance on big data, analytics, and digitization, Aon is leading the way by building the world’s preeminent repository of risk and insurance information.
Aon Inpoint delivers data-base tools and data sets, powered by Aon GRIP and Aon Risk/View. This helps us understand trends and develop insights such as placement benchmarks and the impact of alternate program structures on pricing. GRIP allows us to have a pulse on the marketplace. This resource aims to translate to cost savings for our clients.
Aon GRIP® Aon GRIP is unique in its ability to benchmark like risks placed throughout the globe, helping our Aon Inpoint carriers and clients evaluate insurer performance and anticipate shifts in the market.
Aon Risk/View Aon Risk/View, our key resource for market and risk insights for clients, colleagues, and carriers, is unique in its ability to benchmark like risks placed throughout the globe.
$36 billion in annual
premium flow
Over 140,000 opportunities
to quote annually
159 client countries
1,931 global carriers
92 lines of business
77,409 global clients
Retail Industry Benchmarking
Aon’s Actuarial Practice has been benchmarking casualty costs for over 20 years, allowing retailers to leverage industry-specific data to gauge the effectiveness of their programs. This report provides comprehensive data on key issues and concerns for retailers, while allowing them to benchmark their risk management and risk financing strategies against those of their peers.
Loss Rate
10-11 13-1411-12 14-1512-13 15-16 16-17
$2.05
$2.00
$1.95
$1.90
$1.85
$1.80
Casualty Laser DiagnosticAon’s Casualty Risk Consulting Practice has performed over 60 LaserTM Diagnostics for a variety of retailers. This proprietary tool compares over 90 quantitative
and qualitative performance indicators, benchmarking against top performers.
Data-driven Diagnostic
Cost Savings & Program Improvement
Identification
Direct Engagement of Subject Matter
Experts
Cost Savings & Program Improvement
Identification
10 Retail Industry Practice Aon Risk Solutions 11
Risk Consulting Solutions That Fit
Aon’s team of risk consultants leverages our extensive retail industry experience to assess existing claims, safety, and risk management processes, partnering with our clients to design and implement customized strategies that maximize program effectiveness and minimize TCOR (Total Cost of Risk). These forward-thinking, industry-leading risk management strategies target key cost drivers based upon the highest return on investment resulting in a sustainable competitive advantage for our retailers. Below is more detail about our most popular offerings for the industry.
Actuarial & Analytics
• Collateral• Cost Allocation• Benchmarking Studies• Loss Forecast• Reserve Analysis
Casualty Claims
• Accelerated Claims Closure• Litigation Management • Claims Review• Return to Work• Third Party Administrator Selection
Casualty Risk Control
• Risk Assessments• Safety Program Execution• Ergonomics• Claims Chargeback• Dashboards and Metrics• Learning & Communications
Claims Preparation and Asset Valuation
• Asset Valuation• Complex Claims Advocacy• Property Claims Preparation• Supply Chain• Business Interruption Study
Health & Benefits Solutions for Retail Sector Employers
Our retail sector consulting and brokerage capabilities bring deep subject-specific knowledge across the categories of health, enabling us to develop solutions for retail sector employers of all sizes.
H&B Consulting Support
Compliance Consulting
Financial & Actuarial Specialized Consulting
Vendor Management & Renewal Negotiations
Wellness Programs
Strategy & Design Development
Benchmarking with AonBench,and SpecSelect Tools
Audit Capabilities
Total Rewards Strategy
Casualty Risk Control
Claims Preparation
and Asset Valuation
Reduce Total Cost
of Risk
Actuarial & Analytics
CasualtyClaims
We are experienced in all areas of health, from advising plan sponsors to delivering benefits to employees.
12 Retail Industry Practice
Unparalleled Global Service
All over the world, Aon is unmatched in its commitment to client advocacy in the retail industry, providing superior services and resources through a dedicated team of retail specialists.
Global Optimizationis a proven approach for understanding, assessing, benchmarking and mitigaling your international risks.
Client Value Framework
GAMS User Community
The Global Account Management System (GAMS)An efficient infrastructure for policy coordination and Total Cost of Risk oversight.
Strategy
BrokerageService
• Local regulatory compliance• Central program management• Network oversight • Data management• Daily communication• Contract review
• Link client business objectives with risk strategies
• Program design & optimization across multiple lines of business
• Training & development
• International workers compensation/employers liability
• Foreign vendor/supplier liability • Local auto• Global property fronting• International liability• Advisory on multiple lines
2,317 434 120Clients companies countries
Client Users Aon Colleagues in in
What Our Customers Are Saying:
‘‘
‘‘
‘‘
‘‘
Aon consultants have done a great job developing and implementing our Aon Safety engagement. We are very pleased with the results.
Their ability to deliver and communicate effectively from a teamwork perspective went over really well and solved initial skepticism. We
are fortunate to have these Aon consultants on our team!
I chose Aon for their breadth of resources, knowledge of my business, responsiveness of their team members, and their large industry footprint and investments in technology. I’ve
recommended them to other colleagues based on their consistent delivery of service and partnership.
Dedicated Team“Aon has been a terrific partner the past couple of years. Our decision to move to Aon has proven to be the positive change we were seeking”
Specialty Retailer
Tailored Solutions“Strong responsive teams, with expertise, consistent level of service and stability”
Apparel Retailer
Supportive Partnership“Aon is a terrific partner for our risk management team, efficient, supportive, strategically ahead of the curve.”
Big Box Retailer
Specialty Retailer
14 Retail Industry Practice Aon Risk Solutions 15
DiscoverWe will collaborate to understand both your near- and long-term business priorities, how we can add value to your organization, and help you respond to changing market dynamics.
DevelopWe will jointly author a plan to define how we will work together during the year, outline our commitments to you, and define how we will measure our success.
DeliverWe will follow through on our plan, executing with excellence and tracking outcomes.
ReviewWe will seek your input on how we are doing both through informal feedback sessions and annual surveys.
Aon Client Promise Framework Our Commitment to You
Client PromiseMethodologyThe way we work together to empower results
Partnership
Deliver
DevelopReview
Discover
ResultsExcellence
InnovationExpertise
Client Promise AcademyOur modular training approach drives consistent value
Aon Client PromiseOur commitment to ensure you receive value and personal service
The Aon Client Promise®
The Aon Client Promise framework includes the five pillars of our promise, a comprehensive training curriculum, and a robust methodology for ensuring a consistent client experience.
The five pillars of the Aon Client Promise include partnership, expertise, innovation, excellence and results.
The Aon Client Promise Academy offers unique learning experiences focused on listening for and responding to client needs, building knowledge of the full breadth of Aon capabilities, and understanding the pillars of the Aon Client Promise.
The Aon Client Promise Methodology is based on the following steps:
About Aon Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
© Aon plc 2018. All rights reserved.The information contained herein and the statements expressed are of a general nature and are not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information and use sources we consider reliable, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.
www.aon.com
Twitter us at @Aon_plc
*Specific insurance products and services are offered and sold through, and performed by, representatives of the applicable licensed brokerage and consulting operations that comprise the Aon Risk Solutions network and inquiries are directed accordingly.
Aon Risk Services Northeast, Inc. dba in California Aon Risk Insurance Services Northeast, Inc. License # 0786020
GDM05184_090518
MaryAnne BurkeManaging DirectorRetail Practice LeaderAon Risk Solutions*[email protected]
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